15 Things People Who are Smart with Money Don't Do

Money makes the world go round yet can’t buy happiness...

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What is it called when you are smart with your money?
What is money dysmorphia?
What is the smartest thing to do with your money?
What should you not do with money?
Why you should be smart with your money?
Why is it important to be smart with your money?
How can I be smarter than money?
How do you know if money is smart?
Why do I feel like I need to spend my money?
Why do I not want to spend money?
What is it called when you dont like spending money?
Is $10000 in savings good?
Is 1000 dollars a lot of money?
What should I do with 20k in savings?
What is a waste of money?
Is it OK to spend money on yourself?
How much money should I put into savings monthly?
What do rich people invest in?
What is the best thing to do with extra money?
What's the best thing to do with money?
What should I do with money now?
Where does billionaires keep their money?
Is gas a need or a want?
Why do people borrow money?
What are three reasons to save?
How can I be smart in life?
How can I make money smarter in my 30s?
How can I be smart in school?

00:00 - Intro
00:35 - Pay full price
01:11 - Upgrading - just because
01:38 - Keep up with the Joneses
02:21 - Buy friendship
02:49 - Leverage affection
03:35 - Do it purely for luxury
04:10 - Choose cheaper alternatives
04:38 - Waste energy
05:09 - Buy into Hype
05:33 - Add-ons
05:57 - Buying vs Renting
06:25 - Mistakes
06:56 - Believe in state-sponsored retirement
07:36 - Diamonds
08:00 - Buy the first house they like
08:39 - Question

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[alux]

Hello Aluxers! Have you ever thrown money at a problem hoping it would just go away?

Enroll in:

[trueman]

Time Code
1) 0:37 Pay Full Price
2) 1:10 Upgrading - Just Because
3) 1:39 Keep Up With The Joneses
4) 2:20 Buy Friendship
5) 2:49 Leverage Affection
6) 3:34 Do It Purely For Luxury
7) 4:10 Choose Cheaper Alternatives
8) 4:39 Waste Energy
9) 5:10 Buy Into Hype
10) 5:34 Add-Ons
11) 5:57 Buying VS Renting
12) 6:25 Mistakes
13) 6:55 Believe In State-Sponsored Retirement
14) 7:35 Diamonds
15) 8:03 Buy The First House They Like
BONUS 16) 9:07

[EvynsWorld]

Alux was the start of me getting my finances together back in 2019. Since then I’ve acquired my home (which is a liability until I decide to either sale or rent out. Lesson learned through Alux videos) and on Monday I close on my first investment property. Thank you Alux so much for helping me get to to this point. This is just the start and there’s going to be so many accomplishment ahead. I wish the same to everyone who watches the video.

[samph]

I bought my first and only house after looking for years. It wasn’t my “dream house” but it was a house. Thanks to my father I offered $25K below asking price and they accepted. They had a hard time selling it because of all the work they had done themselves that wasn’t up to code.
It was essentially a tear down. The first thing I did was to paint the rooms myself. If they had just done that they would have been able to sell it sooner.
Anyway, years later I sold it for a huge profit because a developer bought it with the house next door.
That money kept me going through the years that I was unemployed.
Regarding buying cheap goods, IDK. I wear H&M t- shirts for years!

[drblaque]

I'm an extremely big fan of this channel, but this maybe the first time I've disagreed with over 50% of what was said. I guess we can't always agree with those you love. I think you miscalculated the cost/benefit analysis of paying for luxury, wealthy ppl getting private jets isn't just good business. It is also appropriate spending based on their income. Obviously everyone can fly coach, drive a Toyota, or live in the same house forever like Buffet. So the argument can't be made that it's just timesaving that makes wealthy ppl purchase their own private, expensive vehicles. The lesson we take can't be, don't buy expensive things to keep up with the Joneses. Instead we should always force on budgeting well. I'm still going to share this, it'll be an interesting conversation piece.

[LaGiaGarcia]

I love the idea of if you can't find a deal, negotiate one! You create your own success.

[monsterhobbiesonlinestore]

My Dad use to buy the Consumer's Report magazine so he could buy the best product he could afford...Consumer's Report would compare a bunch of different brands, like cars, and recommend the best. Dad bought a second hand Toyota van that lasted him almost 2 decades because Consumer's Report told him it was the best based on their standards.

[cristoferchanimak]

Alux: Rich people should never buy anything on sale.
Also Alux: People who want to be rich should never pay full price.

[Mac-zegu]

When I first started watching Alux I had a negative net worth and was on the struggle bus. Two year later, I’m a home owner, run a successful side hustle and business.
The power of mindset and focus!
Thanks ALUX

[jarretlevine]

Fantastic video! I’m a longtime subscriber your videos are interesting, knowledgeable, and frankly, they can be life-changing depending on how you use them. I don't disagree with a lot of what you guys say but in this video, there's one area I see as a major RED ALERT 🚨 it's “add ons” specifically travel insurance let me reinforce this concept a little I travel for work and since I've been traveling again this year I've heard some nightmare stories from colleagues when talking about how this pandemic has affected travel and peoples finances depending on travel restrictions or g-d forbid getting covid it can cost you between $3k to $200k depending on where you are and the severity of your case this year my travel insurance plan I upgraded to platinum and added additional covid coverage it's nearly tripled the price I pay yearly but it doesn't even come close to what an infection with this horrible virus would cost me and it is a risk. I know this is a very specific example but as international business, leisure, family, travel rebounds I can see lots of people buying a bargain travel insurance policy and really getting hit with some nasty exclusions and massive bills that could have been avoided if they did upgrade and addon covid coverage.

[justmika]

I do most of these points but i still kinda like diamonds. I need to educate myself on the and where they come from though. I have not thrown money at a problem hoping it would go away but i have put money into things that did not benefit me when i thought it would. Like one time i had spent most of my monthly pay on a "consultant" to help me learn about business but she overpromised and underdelivered. Not that she was a bad person in my opinion but she was not someone who i should be investing in and was not much help at the time. Most of my problems are money problems that would be solved with getting other incomes outside of a job would solve. Other problems i have is a social thing i would like to focus on after getting rid of the money problems.

[Someguy]

Idk how people can watch this with intention to learn and honestly come back for more. The content is incredibly insensitive to low-income people, suggesting that you're bad with money if you can't afford property, or can't afford to outsource projects. The term "gotta have money to make money" is important to take into question when watching manipulative content like this. I'm not saying Alux is wrong per se, it's just incredibly simplified and reductive of people with real issues with money. Most people literally can't afford to even make these "mistakes" which kind of shows how out of touch or projective the vantage point of the narrator is.

The fact that this video uses "purchasing private jets" as a relatable way to be smart with money is insane to me... It is convenient, but it is so far from financially sound, my head is still spinning from following the logic loop. It boggles my mind how a channel like this can have so much viewership... This is blatant dissociative fantasy, and I'm honestly astonished and ashamed by it's message and popularity.

Also, coming from a psychological background, A lot of this advice is actually closely linked to personality disorders and reduction in quality of life... About 3 of these 15 suggestions equate to "try to gyp people out of retail price, and use options as bartering leverage" which is not only manipulative and anti-social behaviour, but at it's best is going to make you purchase lower quality, or overpriced products from sellers that can afford the reduction in margin who are just as toxic and abusive as this "grindset", hustle-culture fantasy pushes everyone to be. People demonstrably lead happier lives from accepting and cherishing from a smaller queue and being happy with what they get, than they do if provided the stress and uncertainty of selecting from a plethora of options.

The best key to balancing financial stability and happiness is to operate within your means, and have appropriate expectations in what you want given said means. Most problems with acquiring money result from the lack of people able to circulate it, and how it inevitably devolves into the rich exchanging hands with the rich, and the poor providing a one way lane of financial transit to the rich, while also providing 40+ years of their lives to the laborforce of those with the means to produce (ie. the rich). If everyone is storing money away cause they either can't afford to have disposable income, or they have too much money and simply can afford to hold on to it, we only end up interacting financially with the worlds elite, and we are creating a vortex of money straight from the poor to the rich... This also isn't news. The global debt is over 3.5 times the amount of GDP currently available on the planet, and is scheduled to only get worse... If you don't understand what that means, it means that banks and investors (The rich) claim the are owed 3.5 times more than what the world is worth... Let that sink in...

This channel is just a cheap stimulation of endorphins to make you feel like you're in the same level of conversation as people who have the means to invest and abuse it. There is nothing to be gained but false narrative and harmful rhetoric.

Thanks for coming to my TedTalk

[devendratayde]

I AM 27 and I hv been Financially free now and going be millionaire very soon with my millionaire Mindset Thank you !

[fevermotivation]

you dont get rich by having 3 or 4 degrees, you get rich by learning how money works

[Coincollector]

When someone tries to make repairs to save money or face. If they screw it up and make it worse the repair bill becomes bigger. When I upgraded because my old phone died. Not only did I buy a better phone but I cut down my bill by almost $9.00 a month. Buying vs renting pros and cons. When you buy a property and pay off the mortgage eventually you own the house. When you rent long term. You lose all the money that went for rent. If you leave the rental property you have zero to show for it. Owning the property comes with expenses but when you retire. The house is paid for and if you didn't save for retirement. Social security payments won't cover rent and other expenses. I never tried to keep up with the Joneses. I live at my own pace. Buying friends and affection never works. Having kids is technically throwing money away. It's a full-time job, lots of overtime and no pay. Except the job costs money instead of earning. When junior breaks the neighbors window or does other property damages. Mom and dad foots the bill. Then they put their foot in juniors ass. When I go shopping. I always look for bargains. When someone negotiates for a much lower price on a property. The house is usually in pretty bad shape and may have bugs.

[Je.rone_]

anyone reading this, i wish you success, fulfillment, wealth, and a life with no regrets

[princekumarsingh]

Your way of talking with firm confidence like the words of wisdom by the god .
True fan 👍

[salomemuhia]

Please resume saying...'where future billionaires come to get inspired...it's so cool and original! I miss it...it's what caught my attention at the start. Sets Alux apart and above...and return the yacht too

[mikehess]

Rich Dad Poor Dad meets the 5 criteria. 1. Addresses a permanent and universal human concern. 2. It's a game changer. 3. It has influenced other great works. 4. Respected by experts. 5. Readable and Rewarding.

[sselvaraj]

Pay full price
Upgrading just because
Keep Up with Joness
Buy friendship
Leverage affection
Do it purely for luxury
Choose cheaper alternative
Waste energy
Buy into high
Add ones
Buying vs renting
Mistakes
Diamonds
Buy the first house they like